All Forum Posts by: Beth Wheeler

We are primarily doing buy and hold right now. However, our business plan is to do buy and hold and fix and flips. Any information you can provide would be excellent. 

Thanks

Thanks for the advise Michael Cohen. I will approach it this way and see what happens. I am currently looking at a deal now, so I can use that as a way to approach some potential lenders.

I have started calling around in DE, but plan on start calling around PA and NJ too. Right now I have a rental in PA and I am looking at another one later today. I am going to talk with my agent to see if she has any recommendations. I know she has worked with lenders in the past. I will let you know if I find someone

I have a vacation rental that I bought using a conventional mortgage. I was looking to refi and I am finding that most lenders will refi up to 20% to 25% of LTV. They are actually looking at my DTI ratio and not really taking into account the rent received the vacation rental

I am looking to find a mortgage broker that is familiar with real estate investing in the Wilmington DE area.   I am just starting out and trying to build my team and have been having a hard time finding the right broker.  Any recommendations are very much appreciated.

Thanks

Beth

Thanks for the good information. I am new and trying to figure all the financing out. As I understand it, I can have up to 10 properties in my name before I have to go commercial. I currently have a primary residence and property that I am getting ready to rent out. I thought I should establish a LLC or company entity of some sort to protect my personal assets, but it sounds like I need to just wait until I reach my 10 properties. I am actually looking at a potential 3rd property now that would be a rental. I know that if I do purchase this property, I will be maxed out from a debt to income ratio. I assume once I get the 2 rentals occupied and start collecting rents, this will change the debt to income ration issue. Is this all correct?

I am new to real estate investing and have decided to get my real estate license as well. I work full time in a totally different industry that I would love to get out of. I decided to get my license in order to learn, earn extra income, access the MLS myself, and hopefully be able to leave my full time job.